Coinbase Global (NASDAQ:COIN) CAO Jennifer Jones Sells 1,756 Shares

Key Points

• Coinbase Global CAO Jennifer Jones sold 1,756 shares at an average price of $300.52, amounting to a total of $527,713.12.
• The company reported earnings of $0.12 EPS for the last quarter, significantly missing analysts' expectations of $0.91 EPS.
• Institutional investors own 68.84% of Coinbase shares, with some recent acquisitions and stake increases, indicating continued interest in the stock.

Coinbase Global, Inc. (NASDAQ:COIN) CAO Jennifer Jones sold 1,756 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $300.52, for a total value of $527,713.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Coinbase Global Price Performance

NASDAQ:COIN traded up $2.48 during trading hours on Tuesday, reaching $308.48. 7,691,554 shares of the company traded hands, compared to its average volume of 11,507,209. The firm's 50-day moving average is $346.88 and its 200-day moving average is $262.20. The stock has a market cap of $79.26 billion, a P/E ratio of 29.83 and a beta of 3.70. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $444.64.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.91 by ($0.79). The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. Coinbase Global's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.14 EPS. Equities research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

COIN has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their price target on Coinbase Global from $239.00 to $268.00 and gave the stock a "neutral" rating in a research note on Monday, July 7th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $470.00 target price on shares of Coinbase Global in a research report on Friday, August 1st. Wall Street Zen raised Coinbase Global from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Citigroup raised their price objective on Coinbase Global from $270.00 to $505.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Finally, Williams Trading set a $405.00 price objective on Coinbase Global in a research report on Thursday, July 31st. Thirteen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $352.72.

Institutional Trading of Coinbase Global

Large investors have recently modified their holdings of the business. Mascagni Wealth Management Inc. acquired a new stake in shares of Coinbase Global during the fourth quarter valued at about $25,000. Copia Wealth Management acquired a new stake in shares of Coinbase Global during the fourth quarter valued at about $26,000. Bessemer Group Inc. grew its stake in shares of Coinbase Global by 297.4% during the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock valued at $26,000 after acquiring an additional 113 shares in the last quarter. Evelyn Partners Investment Management Europe Ltd grew its stake in shares of Coinbase Global by 92.3% during the second quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange's stock valued at $29,000 after acquiring an additional 36 shares in the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new stake in shares of Coinbase Global during the first quarter valued at about $30,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

About Coinbase Global

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.

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